If you’re a buyer just entering the market, you’ve probably been looking at hundreds of homes online and researching the home buying process…and hopefully you’ve talked to a lender and have an idea of what you can afford. One of the next decisions you will make is whether you want to buy new construction or an existing home. There are pros & cons to both! I’ll hit the basics so you can start thinking about what’s best for your situation…

Resale Home

Pros:

- “Location, location, location”…in established cities, existing homes will generally have a shorter commute and be centrally located

- It will be ready for you to move in on a set date

- If you’re a DIY-er or pretty handy around the house, you may take pride in sprucing up what’s already there and making it your own. Older homes tend to have more character…

- Landscaping and trees will be established and more mature

Cons:

- It’s an older home, and most likely won’t have any homebuilder’s warranties

- You can’t customize from floor plan to finishes

- Less energy efficient

- What some see as character, others see as dated

New Construction

Pros:

- Customized by you

- Everything is brand new, and comes with warranties

- More energy efficient and better technology

- You can find a community based on amenities that are important to you

Cons:

- It takes time to build – and count on it taking longer than the builder estimates…

- Some new communities don’t have a huge variation in floor plans and elevations. It saves money for the builder, but makes the neighborhood look too “cookie-cutter” for some

Some people begin their search leaning heavily towards one or the other, but often change their minds. It all depends on your needs, wants, and flexibility. Everyone is different, so you must decide what’s right for YOU!